NLC India Limited (NLCINDIA.BO)

Indian government to sell up to 7% stake in coal miner NLC

NEW DELHI (Reuters) -India's federal government will offer to sell a stake of up to 7% in coal miner NLC India this week, according to filing to the stock exchange. The government holds a 79.2% stake in the company, whose shares have nearly tripled over the last year to 226.70 rupees as of Wednesday. The government will offer to sell 5% of its stake in the state-run company, which also operates power plants, with an option to sell an additional 2% stake if there is more demand, according to the notification.